Hsbc Holdings PLC Buys 923,546 Shares of Newmont Corporation $NEM

Hsbc Holdings PLC grew its stake in Newmont Corporation (NYSE:NEM) by 28.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,223,631 shares of the basic materials company’s stock after buying an additional 923,546 shares during the period. Hsbc Holdings PLC’s holdings in Newmont were worth $422,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. GoalVest Advisory LLC bought a new stake in shares of Newmont in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in Newmont during the fourth quarter worth about $26,000. Cornerstone Planning Group LLC increased its stake in Newmont by 312.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 206 shares during the period. JPL Wealth Management LLC acquired a new position in Newmont in the 3rd quarter valued at approximately $27,000. Finally, Lodestone Wealth Management LLC acquired a new position in Newmont in the 4th quarter valued at approximately $28,000. Institutional investors own 68.85% of the company’s stock.

Newmont Trading Up 0.1%

NEM stock opened at $103.86 on Friday. The business has a fifty day moving average price of $110.02 and a 200 day moving average price of $110.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17. Newmont Corporation has a fifty-two week low of $55.37 and a fifty-two week high of $134.88. The stock has a market capitalization of $110.88 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.72 and a beta of 0.42.

Newmont (NYSE:NEM) last posted its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.83. The company had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Analysts expect that Newmont Corporation will post 9.91 EPS for the current fiscal year.

Newmont Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Wednesday, May 27th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, May 27th. Newmont’s payout ratio is currently 13.49%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Scotiabank decreased their price objective on Newmont from $152.00 to $151.00 and set a “sector outperform” rating on the stock in a report on Friday, March 20th. Canadian Imperial Bank of Commerce set a $175.00 price objective on Newmont and gave the company an “outperform” rating in a research report on Monday, June 1st. Argus upped their target price on Newmont from $94.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. TD raised their target price on Newmont from $116.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Finally, Barclays assumed coverage on shares of Newmont in a research note on Thursday, May 21st. They set an “overweight” rating and a $133.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.98.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont received major regulatory approvals from British Columbia for its Red Chris Block Cave project, a key milestone that supports a transition from open-pit mining to block caving and extends the mine life into the mid-2040s. The approval improves visibility on future production and could support the stock by advancing Newmont toward a final investment decision later this year. Article Title
• Positive Sentiment: Newmont continues to be viewed as a core name in gold mining, and broader strength in gold/mining shares may be helping sentiment around the stock. This can provide support even when company-specific news is limited. Article Title
• Neutral Sentiment: BNP Paribas Exane lowered its price target on Newmont to $111 from $128 while keeping a neutral rating. That is still above the current share price, but the cut may temper near-term enthusiasm. Article Title
• Negative Sentiment: Reports say Newmont’s Cadia mine was halted after an earthquake, raising concerns about temporary production disruption. Any prolonged shutdown could weigh on output and sentiment until Newmont clarifies the impact. Article Title

Insider Activity at Newmont

In other Newmont news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $315,960.00. Following the completion of the transaction, the executive vice president directly owned 46,315 shares of the company’s stock, valued at approximately $4,877,895.80. This represents a 6.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,556 shares of company stock worth $3,120,276 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.